Veepee Group closes 2024 at 3.3 billion. In Italy flash sales grow twice as fast as in Europe

The Veepee Group ended a consolidated 2024 with a turnover of EUR 3.3 billion, up slightly from EUR 3.2 billion a year earlier. Italy - which recorded +9% in revenue - was one of the markets that contributed most significantly to the growth: in our country, flash sales, which represent the core business of the French group, founded in 2001 by Jacques Antoine Granjon, grew by 9.5% during 2024, compared to +5% recorded by the European markets.

Italy's 'leadership' emerges in particular in certain categories: flash sales of fashion and accessories rose by 8% against 5% in Europe; sportswear recorded a surge of +22% (against +16% in Europe), while footwear sales grew even three times more than in the EU: +12% against +4%. "Italy stood out this year," confirms Valentina Corbetta, Veepee's country manager for Italy, "and I think this is also due to the wide range of brands made in Italy, which take the lion's share on our platform. They are very popular both in flash sales and in the marketplace. And they are the first partners when it comes to fashion'. Of the 7,000 brands that collaborate with Veepee, about 900 are Italian.

The only segment slowing down after the boom triggered by Covid is that of homewear sales, which rose by 3% in Italy, less than in Europe (+8%). "Italy also plays a central role in this segment: our offer ranges from furnishings to complements, and includes more and more high-end brands, but also medium-positioned brands. We want to provide as complete an offer as possible and we are detecting a growing interest in 'combinations' between hi-tech solutions and design, but also in sustainable materials'.

Widening the focus and analysing the global results, the Veepee group - which was born as such in 2019, from the evolution of the vente-privee platform and the integration of the flash sales business with that of travel (+5% of turnover), advertising and the BrandsPlace marketplace - sold 82 million products in 10 European countries and recorded 2.3 million unique visitors per day. "2024 was a year of consolidation for our site in Europe in a fluctuating macroeconomic environment," says Corbetta, "but the results of the first quarter of 2025 make us imagine a positive future. There are challenges everywhere, competition is increasing and we are experiencing a time of rapid technological evolution. In this context, we aim to stand out for our skills and we will continue to strengthen the core business (flash sales: 22,000 in 2024 alone, ed.) and levers such as the marketplace." BrandsPlace, launched in 2018 in France and followed by Spain, Italy, Benelux and Germany, leaves full control of storefronts and promotions to brand partners and is growing at double-digit rates: 15% globally in 2024.

In Veepee's strategy, the relationship with the brands, Veepee's first and most important interlocutors, is fundamental: 'We design long-term strategies with them, working on a growth path "together" from the full price, which we sell through the marketplace, to the off-price of the flash sales, to the products that are returned after purchase and we put back into circulation with the Re-turn service'.